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Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s):  CRLFF

Cardinal Energy Ltd. is an oil and gas company with operations focused on low decline oil in Western Canada. It is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Its operating areas include the Midale, South District, Central District, and North District. It has over 730 million original oils in place (OOIP) and its low decline production of approximately 3,200 barrels of oil equivalent per day (boe/d) is supported by both water and carbon dioxide (CO2) enhanced oil recovery (EOR). Its South District operating area is located east of Calgary in southeastern Alberta and produces medium gravity crude, as well as liquids-rich natural gas. Its Central District operation is located in East Central Alberta, which is focused on producing oil from multiple, large original oil in place (OOIP) pools. Its North area includes Grande Prairie, Clearwater, House Mountain, Mica, and Mitsue properties.


TSX:CJ - Post by User

Comment by Quintessential1on Oct 07, 2023 11:17am
151 Views
Post# 35674540

RE:RE:RE:RE:RE:RE:RE:RE:RE:Blood bath

RE:RE:RE:RE:RE:RE:RE:RE:RE:Blood bathOnly if it turns into some kind of proxy war like the Russia / Ukraine war.

As it stands it looks to be an internal confict of a non-oil producing country although Israel does have a couple of refineries.

I would rather speculate on who the private operator is that CJ purchased the increased 21% operating interest from in the Mitsue Gilwood deal?

I am also curious if there was a lost leader in the deal as two assets were acquired.

Was the 21% increase in Mitsue Gilwood the sweetener for the private company to let go of the Buffalo Clearwater play? 

Just wondering why they left the remaining 14% of the MG operating interest on the table unless:
1 They could not get it because it makes too much money for the private company.
2 They did not want it as it uses EOR and they took all they had to to get the clearwater play

Also wondering if they can use the remaining 14% operating interest to leverage another deal with the private company for more cherry assets down the road? (assuming the Buffalo Clearwater asset was the better part of the deal)

Knowing who the private company is might be beneficial to figuring this out but I am going to speculate that whoever the private company is, John Brussa sits on the board.

All just speculation and a possible distraction for a long thanksgiving weekend. 

GLTA

 


egee wrote: Perhaps the escalating dispute with  Israel  and hammas which was declared a war by Israel will boost oil.  Get ready


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